Veritex (NASDAQ:VBTX) Rating Increased to Hold at StockNews.com

Veritex (NASDAQ:VBTX) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Wednesday.

Several other research analysts have also recently weighed in on VBTX. Keefe, Bruyette & Woods cut shares of Veritex from an “outperform” rating to a “market perform” rating in a report on Thursday, October 24th. Piper Sandler raised their price target on Veritex from $27.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. DA Davidson lifted their price target on Veritex from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Raymond James upgraded shares of Veritex from a “market perform” rating to a “strong-buy” rating and set a $30.00 price objective on the stock in a research report on Tuesday, September 17th. Finally, Stephens lifted their target price on shares of Veritex from $24.00 to $27.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Veritex has an average rating of “Moderate Buy” and a consensus target price of $29.40.

Veritex Stock Down 1.7 %

Shares of NASDAQ VBTX opened at $27.32 on Wednesday. The business has a 50-day simple moving average of $25.54 and a two-hundred day simple moving average of $22.77. Veritex has a 52 week low of $16.93 and a 52 week high of $28.46. The company has a market cap of $1.49 billion, a P/E ratio of 15.88 and a beta of 1.37. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14.

Veritex (NASDAQ:VBTX) last released its quarterly earnings data on Tuesday, October 22nd. The financial services provider reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.04. Veritex had a net margin of 11.11% and a return on equity of 7.79%. The company had revenue of $113.17 million during the quarter, compared to analyst estimates of $110.22 million. During the same period last year, the business earned $0.60 earnings per share. Veritex’s revenue was up 3.8% compared to the same quarter last year. Research analysts anticipate that Veritex will post 2.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Veritex

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Veritex by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 3,772,114 shares of the financial services provider’s stock worth $87,777,000 after purchasing an additional 52,933 shares during the last quarter. Westwood Holdings Group Inc. increased its stake in shares of Veritex by 16.4% during the first quarter. Westwood Holdings Group Inc. now owns 1,668,743 shares of the financial services provider’s stock valued at $34,193,000 after buying an additional 235,154 shares during the period. Quantbot Technologies LP increased its stake in shares of Veritex by 1,599.8% during the first quarter. Quantbot Technologies LP now owns 39,232 shares of the financial services provider’s stock valued at $804,000 after buying an additional 36,924 shares during the period. Cornercap Investment Counsel Inc. bought a new position in shares of Veritex during the second quarter valued at approximately $566,000. Finally, Renaissance Technologies LLC purchased a new stake in Veritex in the second quarter worth $730,000. Hedge funds and other institutional investors own 88.31% of the company’s stock.

About Veritex

Veritex Holdings, Inc operates as the bank holding company for Veritex Community Bank that provides various commercial banking products and services to small and medium-sized businesses, and professionals. The company accepts deposit products include demand, savings, money market, and time accounts. Its loan products include commercial real estate and general commercial, mortgage warehouse loans, residential real estate, construction and land, farmland, paycheck protection program, 1-4 family residential, agricultural, multi-family residential, and consumer loans, as well as purchased receivables financing.